Rhythm Pharmaceuticals (NASDAQ:RYTM) PT Lowered to $52.00 at Wells Fargo & Company

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price objective cut by equities researchers at Wells Fargo & Company from $53.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 35.24% from the company’s current price.

A number of other research firms have also commented on RYTM. The Goldman Sachs Group upped their price target on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, April 10th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $47.20.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $38.45 on Thursday. The stock’s 50 day simple moving average is $43.17 and its 200 day simple moving average is $38.09. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -12.02 and a beta of 1.90. Rhythm Pharmaceuticals has a 1 year low of $15.50 and a 1 year high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) EPS for the quarter, meeting analysts’ consensus estimates of ($0.70). The company had revenue of $24.23 million during the quarter, compared to analyst estimates of $25.38 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The firm’s revenue was up 175.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.75) EPS. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals will post -4.05 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 1,594 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $51.38, for a total transaction of $81,899.72. Following the completion of the transaction, the executive vice president now owns 7,702 shares of the company’s stock, valued at $395,728.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 791 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $40,641.58. Following the completion of the transaction, the insider now owns 3,457 shares of the company’s stock, valued at $177,620.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yann Mazabraud sold 1,594 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $81,899.72. Following the transaction, the executive vice president now owns 7,702 shares of the company’s stock, valued at $395,728.76. The disclosure for this sale can be found here. Insiders have sold 172,069 shares of company stock worth $7,626,355 over the last ninety days. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RYTM. Hennion & Walsh Asset Management Inc. boosted its stake in Rhythm Pharmaceuticals by 30.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 86,967 shares of the company’s stock worth $3,768,000 after purchasing an additional 20,259 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 3,226,938 shares of the company’s stock worth $148,342,000 after buying an additional 212,370 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Rhythm Pharmaceuticals by 1.7% during the fourth quarter. Wellington Management Group LLP now owns 139,802 shares of the company’s stock valued at $6,427,000 after acquiring an additional 2,359 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at approximately $1,218,000. Finally, Perceptive Advisors LLC raised its holdings in Rhythm Pharmaceuticals by 465.6% in the 4th quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock worth $99,024,000 after acquiring an additional 1,773,282 shares during the last quarter.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.